PDP Shipping & Proj. balance sheet is weak and might have solvency issues

The debt of PDP Shipping & Proj. is decreasing.
Latest debt of PDP Shipping & Proj. is -₹1.52 Crs as of Mar-24.
This is less than Mar-23 when it was -₹1.15 Crs.

The profit is oscillating.
The profit of PDP Shipping & Proj. is ₹2.31 Crs for Mar 2024, ₹1.68 Crs for Mar 2023 and ₹1.91 Crs for Mar 2022

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
PDP Shipping & Proj. latest dividend payout ratio is 12.7% and 3yr average dividend payout ratio is 12.7%

Companies resources are allocated to majorly unproductive assets like Capital Work in Progress